Market Overview - The A-share market is experiencing significant downward pressure, with the Shanghai Composite Index facing a critical support level at 3800 points, as 351 stocks rose while 107 stocks fell, indicating a poor overall market performance with nearly 5100 stocks declining [4] - The lithium battery industry chain is leading the decline, with lithium mining stocks hitting the limit down, while sectors such as computing hardware, memory storage, semiconductors, consumer electronics, photovoltaics, and fintech also saw notable declines [4] Trading Volume and Capital Flow - The total trading volume in both markets reached 1 trillion yuan, an increase of 15.08% compared to the previous day, indicating heavy selling pressure with a net outflow of 147.43 billion yuan from institutional investors [5] - Despite some sectors like media attracting net inflows from main funds, industries such as non-ferrous metals and power equipment faced significant capital outflows, reflecting a shift in institutional investment strategies towards undervalued defensive sectors like banks and oil [5] - Retail investors exhibited a cautious outlook, with a notable trend of following the selling behavior of institutions, leading to a significant number of forced liquidations among leveraged positions [5] Investor Sentiment - Retail investor sentiment is currently at 75.85%, indicating a high level of caution and uncertainty in the market [6] - A survey on investor positions shows that 29.37% of participants are increasing their holdings, while 19.42% are reducing their positions, with 51.21% choosing to remain inactive [10] - In terms of market expectations for the next trading day, 47.64% of investors anticipate a rise, while 52.36% expect a decline, reflecting a divided sentiment among market participants [12]

Market Overview - On November 21, the A-share market experienced a collective decline, with the Shanghai Composite Index falling by 2.45%, the Shenzhen Component Index by 3.41%, and the ChiNext Index by 4.02% [1][2]. Sector Performance - The lithium battery industry chain led the decline, with lithium mining stocks experiencing a wave of limit-downs. Other sectors such as computing hardware, semiconductor, consumer electronics, photovoltaic, and fintech also saw significant drops [2][4]. - Conversely, the military industry sector showed strong performance, with stocks like Pinggao Group, Longxi Co., and TeFa Information hitting the daily limit, while JiuZhiYang and Jianglong Shipbuilding rose over 10% [2][3]. Stock Movements - Notable gainers included: - Pinggao Group: +20.00% at 49.02 - JiuZhiYang: +15.63% at 48.60 - Jianglong Shipbuilding: +14.50% at 22.42 - TeFa Information: +10.00% at 10.45 - Longxi Co.: +10.00% at 25.20 [3]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion, an increase of 257.5 billion compared to the previous trading day, with nearly 5,100 stocks declining [4]. Capital Flow - Main capital inflows were observed in sectors such as media, agriculture, and shipbuilding, while outflows were noted in non-ferrous metals, power equipment, and electronics. Specific stocks with net inflows included Kaimete Gas and Vision China, while Industrial Fulian and Shenghong Technology faced significant outflows [7]. Institutional Insights - Qianhai JuZhen Capital indicated that the market is expected to continue its volatile adjustment, but the medium to long-term positive trend remains intact, supported by funding, policy, and fundamentals [8]. - CITIC Securities anticipates a new upward cycle for the securities industry, aligning with the core directive of enhancing the inclusivity and adaptability of the capital market [8]. - Zhongyuan Securities predicts a steady upward trend in the short term, advising investors to maintain reasonable positions and avoid chasing highs or selling lows [8].

Market Overview - On November 21, A-shares experienced a collective decline across the three major indices, with the Shanghai Composite Index falling by 2.45%, the Shenzhen Component Index down by 3.41%, and the ChiNext Index decreasing by 4.02% [2][3]. Sector Performance - The lithium battery industry chain led the decline, with lithium mining stocks experiencing a wave of limit downs. Other sectors such as computing hardware, semiconductor, consumer electronics, photovoltaic, and fintech also saw significant drops [3]. - Conversely, the military industry sector showed strong performance, with stocks like Pinggao Group, Longxi Co., and TeFa Information hitting the daily limit, while JiuZhiYang and JiangLong Shipbuilding rose over 10% [3][4]. Stock Movements - Notable gainers included: - Pinggao Group: +20.00% at 49.02 - JiuZhiYang: +15.63% at 48.60 - JiangLong Shipbuilding: +14.50% at 22.42 - TeFa Information: +10.00% at 10.45 - Longxi Co.: +10.00% at 25.20 [4]. - Lithium mining stocks such as Tianqi Lithium, Ganfeng Lithium, and Shengxin Lithium Energy faced significant declines, with over ten stocks hitting the limit down [4]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of 257.5 billion yuan compared to the previous trading day, with nearly 5,100 stocks declining [4]. Capital Flow - Main capital inflows were observed in sectors like media, agriculture, and shipbuilding, while outflows were noted in non-ferrous metals, power equipment, and electronics [6][7]. - Specific stocks with net inflows included: - Kaimete Gas: 767 million yuan - Yidian Tianxia: 641 million yuan - Vision China: 546 million yuan [6]. - Stocks facing significant net outflows included: - Industrial Fulian: 2.064 billion yuan - Shenghong Technology: 1.760 billion yuan - Xinyi Sheng: 1.729 billion yuan [7]. Analyst Insights - Qianhai JuZhen Capital indicated that the market is expected to continue its volatile adjustment phase, but the medium to long-term positive trend remains supported by capital, policy, and fundamentals [8]. - CITIC Securities suggested that the securities industry is likely to enter a new upward cycle, aligning with the core directive of enhancing the inclusiveness and adaptability of the capital market [8]. - Zhongyuan Securities projected a steady upward trend for the market in the short term, advising investors to maintain reasonable positions and avoid chasing highs or selling lows [9].

来源：上海证券报·中国证券网 上证报中国证券网讯 11月21日，A股三大股指持续走低，截至10时54分，沪指跌2.16%，深证成指跌 3.02%，创业板指跌3.44%。盘面上看，锂电产业链、算力硬件、光伏、存储芯片等方向跌幅居前。 ...

Market Overview - A-shares experienced a significant decline today, with the Shanghai Composite Index dropping over 2% in the afternoon, marking the largest decline since April 7 of this year [1] - The trading volume surged, exceeding 1.35 billion, representing a more than 130% increase compared to the previous day [1] - In just four days, the market has attracted over 1 billion in capital inflows [1] Sector Performance - The lithium battery industry chain saw a widespread decline, while computing hardware themes collectively retreated, with memory and CPO sectors leading the losses [3] - Solar energy, consumer electronics, and semiconductor stocks also experienced significant declines [3] - Conversely, AI application concepts rose against the trend, and agricultural stocks attracted defensive capital, with photolithography stocks strengthening [3] External Influences - U.S. stocks faced a sharp decline due to two major negative factors: the fading market enthusiasm following Nvidia's strong earnings and a significant decrease in investor hopes for a rate cut in December [3] - The volatility in U.S. markets reflects a cautious shift in market sentiment [3] Foreign Investment Trends - UBS data indicates that funds with varying investment scopes slightly increased their allocations to China in Q3 [3] - Since the beginning of Q4, foreign institutions have maintained close attention to A-share listed companies, conducting over 1,300 research visits as of November 19 [3] Market Outlook - According to Everbright Securities, the market may be in a broad fluctuation phase despite being in a larger bullish trend, with significant room for index growth compared to previous years [3] - China Galaxy Securities expresses optimism for investment opportunities in the Chinese stock market by 2026, citing factors such as sustained counter-cyclical policies and improved internal conditions [4] - The report highlights the importance of the capital market in facilitating the transition between old and new growth drivers, suggesting a positive cycle between long-term capital inflows and stock market growth [4] Investment Themes - Key investment themes include a focus on consumer sectors, traditional industries, and technology growth, with specific attention to AI computing, robotics, solid-state batteries, photolithography, controllable nuclear fusion, deep-sea technology, and the silver economy [4]

Market Performance - On November 21, the three major A-share indices weakened, with the ChiNext Index dropping over 3.00% [1] - The Shanghai Composite Index fell by 1.74%, and the Shenzhen Component Index decreased by 2.66% [1] - Nearly 5,000 stocks in the Shanghai, Shenzhen, and Beijing markets experienced declines [1] Sector Performance - The lithium battery supply chain, computing hardware, photovoltaic, and storage chip sectors saw the largest declines [1]

| 上证指数 | 3885.92 | -45.13 | -1.15% | | --- | --- | --- | --- | | 000001 | | | | | 创业板指 | 2964.39 | -77.95 | -2.56% | | 399006 | | | | | 深证成指 | 12709.78 | -271.04 | -2.09% | | 399001 | | | | | 科创50 | 1298.67 | -29.52 | -2.22% | | 000688 | | | | | 北证50 | 1425.77 | -19.77 | -1.37% | | 899050 | | | | | 沪深300 | 4498.03 | -66.92 | -1.47% | | 000300 | | | | | 上证50 | 2980.14 | -28.15 | -0.94% | | 000016 | | | | 格隆汇11月21日｜A股主要指数走弱，沪指跌1.15%，深成指跌2.09%，创业板指跌2.56%。锂电产业 链、算力硬件、存储芯片等方向跌幅居前，沪深京三市下跌个股近4300只。 ...

转自：智通财经 【11月20日连板股分析：连板股晋级率达四成 合富中国走出15天13板】今日共41股涨停，连板股总数 12只，其中三连板及以上个股6只，上一交易日共15只连板股，连板股晋级率40%（不含ST股、退市 股）。个股方面，继昨日全市场超4100只个股下跌后，今日市场又有超3800只个股下跌，个股炸板率超 50%，市场情绪低迷。部分高位股获资金抱团，合富中国复牌后不跌反涨走出15天13板，九牧王上 演"天地天板"晋级7连板。板块方面，虽然英伟达业绩再次超预期，但算力硬件端普遍呈兑现走势，中 际旭创、新易盛、工业富联等均留下高开低走阴线；锂电板块大幅分化，部分低位的盐湖提锂概念股表 现活跃，争光股份20CM涨停，贤丰控股（维权）涨停，三达膜涨超10%。但前期领涨的电解液概念股 再受重挫，多氟多、天际股份几乎跌停，永太科技跌超6%。 ...

Market Overview - The A-share market experienced fluctuations, with the ChiNext index dropping over 1% after previously rising more than 1.5% [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.71 trillion, a decrease of 17.7 billion compared to the previous trading day [6] - Over 3,800 stocks in the market declined, indicating a broad market weakness [1] Sector Performance - The banking sector showed resilience, with major banks like China Bank and Industrial and Commercial Bank reaching historical highs [1] - The computing hardware concept saw localized activity, with Zhongfu Circuit hitting the daily limit [1] - The optical photoresist sector continued its strong performance, with Guofeng New Materials achieving two consecutive limit-ups and Baichuan Shares hitting the daily limit [1] - Conversely, sectors such as beauty care, tourism and hotels, food, and retail experienced significant declines, with stocks like Nanjiao Food and Tianma Technology hitting the daily limit down [1][2] Index Performance - At the close, the Shanghai Composite Index fell by 0.4%, the Shenzhen Component Index dropped by 0.76%, and the ChiNext Index decreased by 1.12% [3][4]

凤凰网财经讯 11月20日，市场震荡调整，创业板指跌超1%，此前一度涨超1.5%。 涨停表现 封板率 49.00% 封板 41 触及 42 截至收盘，沪指跌0.4%，深成指跌0.76%，创业板指跌1.12%。 从板块来看，算力硬件概念局部活跃，中富电路20cm涨停。银行板块逆势走强，中国银行、工商银行均续创历史新高。光刻胶概念延续强势，国风新材2连 板，百川股份涨停。下跌方面，美容护理、旅游酒店、食品、零售等泛消费方向集体走弱，南侨食品、天马科技触及跌停，国联水产、水羊股份、益客食品 等多股大跌。 沪深两市成交额1.71万亿，较上一个交易日缩量177亿。盘面上，市场热点快速轮动，全市场超3800只个股下跌。 板块方面，海南、银行等板块涨幅居前，美容护理、光伏设备、食品加工等板块跌幅居前。 昨涨停今表现 –1.25% 高开率 63% 获利率 ...